Former bank regulator and Professor William Black says, “Apparently, regulators are much more sophisticated than we were because we had never thought of leaving felons in charge of our largest financial institutions.”
Dr. Black contends, “This started with the first lie of the virgin crisis–that the banks are pure and had stopped violating the law. The second lie is that we can’t prosecute . . . because if we did, we would cause the financial system to collapse. This is ludicrous.” Dr. Black predicts, “The U.S. banking system is absolutely primed for the next meltdown. Dr. Black and others think, “There is pervasive fraud at the most reputable banks. . . . The U.S. financial system is sick, and we still have the fundamental dynamic of a regulatory race to the bottom.” Join Greg Hunter as he goes One-on-One with UMKC Professor William K. Black.

 

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  1. Rickards says that the military might intervene in the banking system in one contingency.   The officer corps is rotten to the core.  A mutiny might be more in order.  Our banking system reads more like a comic book actually if you ask me.

  2. Even though he’s rather funny, of course this guy is completely full of crap, contending that since America can print its own stamps, folks don’t have to worry about what’s owed to them (insured bank balances, socialist socurity, etc.). Anyone with s CLASSICAL Econ. 101 education KNOWS DAMNED WELL that inflation of currency ALWAYS leaks into prices, jacking up costs of living. So, while mere NUMBERS of stamps will in fact be made good … the purchase power of those stamps are doomed to plummet drastically.

     Laws of governments can be skirted by its sycophants, but … LAWS OF ECONOMICS ENFORCE THEMSELVES.

  3. Greg and Bill are usually spot on with their thinking, But this time I have to address their ignorance about Iran.  Iran is possibly the most peaceful country in the world next to some countries that have no military at all.  The USA is the only country in the world that has shown that they will use nuclear weapons.

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